Imperial Bank (U) Limited v T-Brucks East Africa Limited & 2 Ors (Civil Suit No. 637 of 2013)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court entered judgment on admission against all defendants jointly and severally. Where defendants made unequivocal admissions of material facts in the joint scheduling memorandum and their defence contained only evasive general denials, the admissions bind them under s.57 of the Evidence Act and no triable issues remain. Personal guarantors who execute unlimited guarantees create a primary obligation to pay immediately upon default by the principal debtor and can be sued without the creditor first exhausting remedies against the principal debtor.
Outcome
Judgment entered on admission in favour of the plaintiff; defendants ordered to pay principal debt, general damages, interest and costs
Facts
On 6 July 2012, Imperial Bank and T-Brucks East Africa Limited entered into a loan agreement for UGX 250,000,000 at 27% interest per annum, repayable in 24 monthly instalments, secured by motor vehicles and trailers. On 9 August 2012, the second and third defendants (directors of the first defendant) executed unlimited personal guarantees in favour of the bank. The first defendant defaulted on loan repayment. The defendants were served with notice to remedy the default but failed to do so. At the scheduling conference, the parties agreed facts including that the loan was obtained, the guarantees were executed, and the first defendant defaulted. After several adjournments, counsel for both parties agreed to move for judgment on admission. The joint scheduling memorandum contained agreed facts but the written statement of defence contained only evasive general denials without specific traversals of the plaintiff's allegations.
Issues
- Whether the Defendants breached the terms of the loan agreement.
- Whether the 2nd and 3rd Defendants are liable to repay the loan as guarantors.
- What remedies are available to the parties.
Orders
- Judgment on admission entered against the Defendants jointly and severally under O.13 r.6 CPR.
- Declared that the Defendants breached the terms of the loan agreement.
- Defendants to pay to the Plaintiff the sum of UGX 272,225,225/- due and owing.
- General damages of UGX 10,000,000/- awarded to the Plaintiff.
- Interest at the agreed rate of 27% per annum to be paid from 1st November 2013 till payment in full.
- Interest at the rate of 12% per annum to be paid on general damages from the date of judgment till payment in full.
- Costs of the suit awarded to the Plaintiff.
Rules and key headnotes
Legislation cited (14)
- Civil Procedure Act s.57
- Civil Procedure Act s.27
- Civil Procedure Rules O.3 r.1
- Civil Procedure Rules O.6 r.8
- Civil Procedure Rules O.6 r.10
- Civil Procedure Rules O.8 r.4
- Civil Procedure Rules O.12 r.1(1)
- Civil Procedure Rules O.13 r.6
- Civil Procedure Rules O.15 r.1(1)(2)(3)
- Evidence Act s.16
- Evidence Act s.57
- Contracts Act s.68
- Contracts Act s.71(2)
- Judicature Act s.33
Cases cited (14)
- Natha v Jodha (1884) 6 ALL 406
- Godfrey Lule v Attorney General (Court of Appeal Civil Appeal No. 2 of 2000)
- Kamugisha Lennard v Uganda Revenue Authority (High Court Civil Suit No. 311 of 2012)
- Kampala District Land Board and Another v National Housing and Construction Co Ltd (Supreme Court Civil Appeal No. 2 of 2004)
- Tororo Cement Co Ltd v Frokina International Ltd (Supreme Court Civil Appeal No. 2 of 2001)
- Comptroller of Customs v Western Electric Co Ltd [1966] AC 367
- Ashmore v Corporation of Lloyds [1992] 1 WLR 446
- John Peter Nazareth v Barclays Bank International Ltd [1976] EA 39
- Joshua v Uganda Sugar Factory [1968] EA 570
- Bank of Baroda v Mahomed [1999] Lloyd's Rep 14
- Luka Matovu & Others v Attorney General (Miscellaneous Application No. 143 of 2008)
- Agricultural Finance Corporation vs. Kenya National Insurance Corporation, Civil Appeal No. 271 of 1996
- Moschi v Lep Air Services [1973] AC 331
- Hajji Asuman Mutekanga v Equator Growers (U) Ltd (Supreme Court Civil Appeal No. 7 of 1995)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.